Page 15 - AfrOil Week 20 2021

AfrOil NEWS IN BRIEF AfrOil

COMPANIES significant untapped hydrocarbons production
potential of our newly acquired Tunisian assets.
Equinor and Sonatrach An update in this respect will be provided in due
course once we have finalised our operational
sign memorandum of working programme.”
Zenith Energy, May 12 2021
understanding

On May 17, Equinor and Sonatrach signed SERVICES
a memorandum of understanding (MoU)
to examine cooperation within oil and gas NSML to open dry-docking
exploration and production in Algeria and
internationally. facility in Nigeria
The signing of the MoU strengthens the exist-
ing partnership between Equinor and Sonatrach. NLNG Ship Management Ltd (NSML), which
The MoU also includes cooperation within manages ships that belong to Nigeria LNG
greenhouse gas emissions and carbon manage- (NLNG), will build a dry-docking facility in
ment, industrial safety management, implemen- Nigeria in collaboration with Samsung, Hyundai
tation of technology to increase hydrocarbon and other Nigerian investors.
recovery and development of a model for driving Abdul-Kadir Ahmed, NSML Managing
high-performance oil operations. Director says that the country lacks the needed to 40,000ft wells.
Equinor entered Algeria in 2004. Current facilities to dry dock, and NLNG ships have to Sonadrill is a joint venture created between
assets include In Salah and In Amenas, as well dry-dock internationally. “In line with the Inter- Sonangol, owner of Sonangol Libongos and
as a partnership on exploration in the Timissit national Maritime Organisation regulation, Sonangol Quenguela drillships, and Seadrill,
licence. every vessel must undergo dry-docking once which has extensive drilling expertise both
Equinor, May 17 2021 every three years to retain their safety classifica- worldwide and in Angola.
tion and insurance cover,” Ahmed said. “NMSL A further two Seadrill-owned units are
would have wanted to dry-dock its 11 LNG ves- expected to be bareboat chartered into Sonadrill.
INVESTMENTS sels and one LPG vessel in Nigeria due to the Seadrill will manage and operate the four units
huge revenue such would generate for the coun- on behalf of Sonadrill.
Zenith Energy completes try, but for lack of a dry-docking facility that can “Sonadrill is a strategic partnership in an impor-
Seadrill’s CEO Stuart Jackson commented:
handle an LNG vessel in the country, the com-
acquisition of Candax pany is forced to dry dock her vessels outside it.” tant deepwater basin. The operational excel-
Ahmed noted that the Nigerian economy is lence and experience of our team has driven
Energy’s Tunisian assets losing billions of naira due to the capital outflow, this expansion of the joint venture. Securing the
a consequence of a lack of dry-docking facilities contract for the Sonangol Quenguela drillship is
Zenith Energy, the listed international oil & gas in the country. a great achievement, and is testament to the con-
production company focused on pursuing Afri- Energy Capital & Power, May 18 2021 fidence that our partners and clients have in the
can development opportunities, has announced company and its staff.”
that, following its market announcement dated Seadrill JV secures new Seadrill, May 14 2020
April 30, 2021, Compagnie Du Desert (CDD), its
fully owned subsidiary, has now completed the contract offshore Angola for
acquisition of a 100% interest in the fully owned GAS
subsidiary of Candax Energy in Barbados, Quenguela drillship
Ecumed Petroleum Tunisia (EPT), which holds Total’s Mozambique LNG
a 100% interest in the El Bibane and Robbana Seadrill has announced a new contract has been
concessions in Tunisia. secured by Sonadrill, the 50:50 joint venture with project to take center
Pursuant to the terms of the SPA, CDD an affiliate of Sonangol. Sonadrill has secured a
acquired 100% of the issued share capital of EPT 12- well contract with one option for nine wells stage at France-Africa
for a nominal consideration of $100 payable at and 11 one-well options in Angola for the Sonan-
completion, as well as an additional considera- gol Quenguela drillship. Total contract value for economic summit
tion of approximately $200,000 in the form of the firm portion of the contract is expected to
assumption of debt payable by the end of May be approximately $131mn (inclusive of mobi- As French and African leaders gather on May
2021. lisation revenue and additional services) with 18 in Paris for the France-Africa Summit,
Andrea Cattaneo, Chief Executive Officer commencement expected in Q1-2022 and run- Mozambican leaders and Total have a brilliant
of Zenith, commented: “We are very pleased to ning to Q3-2023. The contract is contingent on opportunity to push for the resumption of LNG
have now formally completed the acquisition of National Concessionaire approval. projects in Mozambique and get things going.
the El Bibane and Robbana concessions which Sonangol Quenguela is the second of two Even if exploitation of natural resources is not
enables Zenith to hold an enlarged portfolio with Sonangol-owned drillships to be bareboat char- particularly on the Summit’s agenda, there will
a daily production of crude oil, natural gas and tered into Sonadrill. The drillship is a 7th genera- be no better chance for the gas-rich country to
condensate in Tunisia. The Company’s focus tion, DP3, dual activity, e-smart ultra-deepwater showcase its solutions and arrangements to the
will now turn towards beginning to exploit the drillship delivered in 2019, capable of drilling up issues posed to its gas industry.

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